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EFN The most recent financial statements for Cornell, Inc., are shown here: INCOME STATEMENT BALANCE SHEET Assets $104,500 Sales Costs Taxable income Taxes (34%) Net

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EFN The most recent financial statements for Cornell, Inc., are shown here: INCOME STATEMENT BALANCE SHEET Assets $104,500 Sales Costs Taxable income Taxes (34%) Net income $43,000 30,200 $12,800 4.352 $ 8,448 Debt Equity Total $ 28,200 76,300 $104,500 Total $104,500 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $2,600 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $50,310. What is the external financing needed

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